Many Cryptos have been launched over the years to stand ahead of Bitcoin. But most of them have failed. However, Shiba Inu is managing to turn heads by making this a possibility now. Shiba Inu is a recently launched Altcoin that is catching the eyes of several investors these days. As such, having sufficient knowledge about what this Crypto is all about is prudent to avoid any hindrance in the long run. In this article, we will learn about the same.
Also, please make sure you research thoroughly the Shiba Inu forecast once you are done reading this article. It can help you further in making a wise choice.
1. Shiba Inu Is Not A Coin
Most people are generally under the misconception that Inu is a coin. However, the truth is that it is a token since it does not contain a blockchain of its own. This makes it exist on top of other blockchains; that is the case with tokens. So, Shiba Inu is built on an Ethereum-blockchain that makes it a potential token in the field of Crypto today.
2. Challenge To Dogecoin
Dogecoin has been one of the strongest meme coins in business recently. In fact, many other meme coins tried to imitate Crypto, but all in vain. However, Shiba Inu seems to be quite a potential Dogecoin killer so far with all its standout benefits and features. This meme coin also features smart contracts that make Dogecoin less so desirable today. In fact, SHIB is the only Crypto that has been able to challenge Dogecoin so far. So, we can expect a lot better things from Shiba in the long run.
3. Ryoshi Is Unknown
We all know that Shiba Inu was created by someone known as Ryoshi. However, we have little to no clue about whether this particular founder is a person or a group of individuals. This is similar to Bitcoin’s founder, Satoshi Nakamoto, who decided to stay hidden behind the screens and continue to operate as an anonymous founder. As such, there are a host of speculations regarding the same.
4. Multi-token Ecosystem
Shiba Inu comprises three distinctive tokens- Leash, Bone, and Shiba Inu. Obviously, Shiba Inu (SHIB) is the most common token among all others.
5. Elon Musk drives it
We all know who Elon Musk is. In fact, we all know how powerful Elon Musk is. Now, imagine someone as powerful as Elon Musk advertising Inu and taking an interest in it. Such a thing is bound to create a sense of inquisitiveness amongst people who want to know if Shiba Inu is reliable or not. Since such a famous personality supports Shiba Inu, it is bound to be a good investment.
6. Utility-Driven Ecosystem
Most people think that SHIB is merely hype. However, those who have seen how incredible its features and benefits are know why it is so famous today. In fact, the SHIB ecosystem promotes innumerable utilities that speak for themselves. This may range from DeFi platforms to NFTs and more. So, you can choose this accordingly.
The Bottom Line
It is fair to say that Shiba Inu has a bright future, although markets keep fluctuating sometimes. The fact that it is already reaching the top of all the Altcoins speaks for its credibility and how it can manage to function for most investors. So, if you are planning to make an investment in this token this year, we will advise you to go for it without a second thought. However, it is wise to conduct more extensive market research to remain on the safe end of things.
